For Sale
$2,659,000

1472 Jag Br BlvdKernersville, NC 27284

NC Retail Investment: Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a 4,200 square foot, Class A, single-tenant retail property in Kernersville, North Carolina. The property, built in 2022, is a newly constructed, free-standing building leased to Heartland Dental, the largest dental support organization in the United States, boasting over 1,700 locations and exceeding $3 billion in 2023 revenue. The 10-year net lease (NN) features a corporate guarantee, providing significant security and minimal landlord responsibilities. The lease commenced April 28, 2022, and has eight years remaining, with four five-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $159,544, representing a 6.00% cap rate on the $2,659,000 asking price. Situated on a 0.72-acre lot at 1472 Jag Branch Blvd, Kernersville, NC 27284, the property benefits from a high-traffic location on Union Cross Road (21,000 AADT), with close proximity to I-40 (67,500 AADT). The strategic location is further enhanced by its proximity to over 900 apartments, including three large complexes under construction or recently completed, providing a substantial built-in customer base. The surrounding area boasts over 277,000 square feet of retail space within a one-mile radius, exhibiting a low 1.4% vacancy rate. This property offers a compelling combination of strong tenant credit, attractive lease terms, and a prime location in a high-growth area of the Triad region, making it an ideal investment for discerning buyers.

Highlights

  • Net lease with minimal landlord responsibilities.
  • Corporate guarantee from Heartland Dental, a leading dental support organization with over 1,700 locations and over $3 billion in 2023 revenue.
  • 10% rent increases every 5 years, including option periods.
  • New construction with transferable warranties, built to tenant specifications.
  • Excellent location near over 900 apartments, including three large complexes.
  • High-traffic retail corridor; 21,000 AADT on Union Cross Rd, near I-40 (67,500 AADT), and over 277,000 SF of retail within 1 mile (1.4% vacancy).

Property Details for 1472 Jag Br Blvd

Property type
Retail properties, Medical offices
Square Feet
4,200 SF
Class
A
Year Built
2022
Buildings
1
Stories
1
Lot Size (sq. ft)
31,363 SF

Location Insight

City
Kernersville
County
Forsyth
State
North Carolina
Latitude
36.08003961
Longitude
-80.10648854
1472 Jag Br Blvd, Kernersville, North Carolina

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1472 Jag Br Blvd
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